KUWAIT / Reuters Kuwait’s Public Authority for Industry (PAI) plans to set up a multi-purpose industrial city in the Gulf Arab state with total expected investments of $6.6 billion, an official said on Wednesday. PAI Acting General Manager Abdulkareem Taqi told Reuters that the government would put in place the infrastructure for the city at an estimated cost of $600 ...

Bloomberg Nigerian energy conglomerate Sahara Group Ltd. said it revived plans for a share-sale as it looks to increase oil production four-fold to 100,000 barrels per day. Lagos-based Sahara mulled an initial public offering in the Nigerian commercial capital and London in 2015, before falling crude prices forced it to backtrack. “The IPO is now back on the table,” Tonye ...

Bloomberg An avalanche of apparently mistaken orders at the close knocked Taiwan’s third-biggest stock down almost 10 percent in minutes, draining $3 billion from its market value. Formosa Petrochemical Corp lurched from around 116 Taiwan dollars to 106 in a cascade of orders that culminated in a 15.2 million-share closing auction — a trade valued at more than $55 million. ...